Investor Relations | Corporate Governance

Audit System

Audit by Audit & Supervisory Board Members

The Company’s Audit & Supervisory Board is comprised of 2 full-time Audit & Supervisory Board Members and 3 Outside Audit & Supervisory Board Members, who are independent officers. Audit & Supervisory Board Members conduct regular audits of each of the Company’s and the TDK Group’s departments regarding the conditions of business execution by departmental audit, inspection of important documents and attendance of important meetings.
Audit & Supervisory Board Members and the Audit & Supervisory Board have regular meetings with the Representative Director to confirm the Company’s management policies while exchanging opinions on the issues to be addressed by the TDK Group, risks surrounding the TDK Group and key issues concerning the audit by Audit & Supervisory Board Members and other issues, thus deepening mutual understanding with the Representative Director.

Internal Audit

The Management Review & Support Group, an internal audit department of the Company, conducts audits of and provides support to each of the Company’s and the TDK Group’s departments from the perspectives of ensuring consistency between business execution and management policies, adequacy of management efficiency, and compliance with relevant laws and regulations.

Accounting Audit

The Company has concluded an audit agreement with KPMG AZSA LLC and has been receiving accounting audits.
Certified public accountants who conducted the accounting audit of the Company include Mr. Yutaka Terasawa, Mr. Hiroto Yamane, and Mr. Kohei Shingaki, who belong to KPMG AZSA LLC and act as the company’s Designated Engagement Partners.
Additionally, 10 certified public accountants, 9 assistant certified public accountants, and 8 other people worked to assist the above accountants in conducting the Company’s accounting audit.

Audit fees, etc.
Details of fees to auditors

Category Fiscal 2020 Fiscal 2021
Audit fees
(Yen millions)
Fees for non-attest service
(Yen millions)
Audit fees
(Yen millions)
Fees for non-attest service
(Yen millions)
Filing company 348 47 357 20
Consolidated subsidiaries 36 - 28 1
Total 384 47 385 21

In fiscal 2020 and fiscal 2021, the content of non-attest service that TDK Corporation will pay to KPMG AZSA LLC, TDK Corporation’s auditors, is guidance and advice for accounting standards.

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